Humbled Hutton: An ailing brokerage is for sale

An ailing brokerage is for sale

Not so long ago, E.F. Hutton could boast that it was the brokerage house to which "people listen." But in the past two years Hutton has found its reputation dwindling rapidly. Amid concerns over the firm's uncertain financial health, Hutton's stock slumped from a high of 44 7/8 last January to as low as 11 on the day after the October market crash. Last week the eroding confidence in the company and an expected downgrading of its credit rating forced the parent company of the tenth largest U.S. retail brokerage to take a - humbling step: inviting a takeover or dismemberment...